You will have increased steering feedback and accelerated front end wear. It's usually best not to dick with the factory steering angles.
Not bad, as far as getting the wheel flush with the fender goes. I don't think I would put spacers/adapters on my car tho, I don't like the gap it leaves between the wheel and brakes, makes it look empty behind there. I'd rather just get wheels with smaller offset
As for extra space in front of brakes... not really different from running lower offset wheel...